PNC Infratech Bags ₹297 Crore Varanasi Airport Runway Project; Shares Jump Over 4%

Infrastructure company PNC Infratech Ltd on Wednesday emerged as the lowest bidder (L1) for a significant ₹297.01 crore contract awarded by the Airports Authority of India (AAI). The project involves the extension, re-carpeting, and strengthening of the runway at Lal Bahadur Shastri International Airport in Varanasi, along with related allied works.

Following the announcement, PNC Infratech shares surged over 4% in early trading, opening at ₹312.95 and reaching an intraday high of ₹314.60, reflecting strong investor confidence in the company’s expanding portfolio.

The contract is slated for execution within 18 months and adds to PNC Infratech’s already impressive order book, which stands at over ₹17,000 crore as of June 30, 2025. The company’s portfolio is diversified across road, highway, railway, and canal EPC projects, with infrastructure-related contracts making up 83% of the total order book.

Industry analysts have welcomed the new contract, maintaining their “Buy” ratings and predicting a potential upside of 20-30% over the next year. maintaining Buy ratings on the stock with 12-month price targets ranging from ₹370 to ₹430, implying a potential upside of 20-30%. The latest airport project further strengthens PNC Infratech’s presence in the aviation infrastructure sector, which is poised for growth amid increasing passenger traffic and government initiatives to expand airport capacity.

With this addition, PNC Infratech continues to solidify its position as a key player in India’s infrastructure development landscape, leveraging opportunities in both traditional and emerging sectors.